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The XBRL Exhibit: A Checklist of Things Not to Miss


This year, the SEC issued rules providing guidance on how companies should prepare and submit an XBRL Exhibit. According to the January 30 overview of the phase-in under the new rules: “The new rules initially will require interactive data reporting only by domestic and foreign large accelerated filers that prepare their financial statements in accordance with U.S. GAAP and have a worldwide public common equity float above $5 billion as of the end of the second fiscal quarter of their most recently completed fiscal year. The first required submissions for issuers that file on domestic forms will be for quarterly reports containing financial statements for a fiscal period ending on or after June 15, 2009. For calendar year companies, this requirement will first apply to their June 30, 2009 quarterly reports filed on Form 10-Q.” (page 39) Many companies are outsourcing their initial period filings and may not be aware of some common omissions and errors that they (and their Filing Agents) may be committing due to the numerous changes between rules of the SEC's Voluntary Filing Program (VFP) and SEC's Final Rules. This Issue Alert, prepared by members of FEI’s Committee on Finance & IT (CFIT) provides a checklist of the most common things that could be missed, many of which are defined in chapter 6 of the SEC's Edgar Filer Manual .

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